Wells Fargo & Company MN lowered its stake in shares of PennyMac Financial Services Inc (NYSE:PFSI) by 22.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 78,025 shares of the real estate investment trust’s stock after selling 22,632 shares during the period. Wells Fargo & Company MN’s holdings in PennyMac Financial Services were worth $1,388,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Citigroup Inc. boosted its stake in PennyMac Financial Services by 1,652.1% during the second quarter. Citigroup Inc. now owns 6,150 shares of the real estate investment trust’s stock worth $103,000 after buying an additional 5,799 shares during the last quarter. Victory Capital Management Inc. raised its position in PennyMac Financial Services by 17.6% in the second quarter. Victory Capital Management Inc. now owns 6,964 shares of the real estate investment trust’s stock valued at $116,000 after purchasing an additional 1,042 shares during the period. Voya Investment Management LLC purchased a new stake in PennyMac Financial Services in the second quarter valued at $174,000. The Manufacturers Life Insurance Company raised its position in PennyMac Financial Services by 11.5% in the second quarter. The Manufacturers Life Insurance Company now owns 12,732 shares of the real estate investment trust’s stock valued at $213,000 after purchasing an additional 1,312 shares during the period. Finally, Cubist Systematic Strategies LLC raised its position in PennyMac Financial Services by 23.6% in the second quarter. Cubist Systematic Strategies LLC now owns 13,025 shares of the real estate investment trust’s stock valued at $218,000 after purchasing an additional 2,489 shares during the period. 89.53% of the stock is currently owned by institutional investors.

Shares of PennyMac Financial Services Inc (NYSE PFSI) opened at $23.70 on Monday. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 1.66. The stock has a market capitalization of $551.93, a price-to-earnings ratio of 9.05, a P/E/G ratio of 1.61 and a beta of 0.68. PennyMac Financial Services Inc has a 1-year low of $15.65 and a 1-year high of $24.00.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings data on Thursday, November 2nd. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.71. The firm had revenue of $250.64 million for the quarter, compared to the consensus estimate of $238.59 million. PennyMac Financial Services had a return on equity of 4.11% and a net margin of 6.47%. The business’s quarterly revenue was down 14.0% compared to the same quarter last year. research analysts forecast that PennyMac Financial Services Inc will post 2.29 earnings per share for the current fiscal year.

In other PennyMac Financial Services news, insider Doug Jones sold 15,000 shares of the company’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $21.95, for a total transaction of $329,250.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Anne Mccallion sold 5,000 shares of the company’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $18.50, for a total value of $92,500.00. The disclosure for this sale can be found here. Insiders sold a total of 218,060 shares of company stock worth $4,680,667 in the last quarter. Company insiders own 45.64% of the company’s stock.

PFSI has been the topic of a number of research analyst reports. Zacks Investment Research upgraded PennyMac Financial Services from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a research report on Thursday. Barclays set a $25.00 target price on PennyMac Financial Services and gave the company a “buy” rating in a research report on Tuesday, December 12th. BidaskClub upgraded PennyMac Financial Services from a “sell” rating to a “hold” rating in a research report on Wednesday, September 27th. Keefe, Bruyette & Woods downgraded PennyMac Financial Services from an “outperform” rating to a “market perform” rating in a research report on Monday, January 8th. Finally, ValuEngine upgraded PennyMac Financial Services from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 15th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $23.50.

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About PennyMac Financial Services

PennyMac Financial Services, Inc (PFSI) is a financial services company. The Company is focused on the production and servicing of the United States residential mortgage loans and the management of investments related to the United States mortgage market. The Company operates through three segments: loan production, loan servicing and investment management.

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Institutional Ownership by Quarter for PennyMac Financial Services (NYSE:PFSI)

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